Executive Changes Include Ocwen, Nationstar

Mortgage News

Mortgage Daily Staff

                                                 May 20, 2014

Among several firms that recently saw changes among their management ranks were Ocwen Financial Corp. and Nationstar Mortgage.

The chief financial officer of Ocwen, John V. Britti, has been appointed to the role of chief investment officer. He’s been with the company since February 2011.

Britti, who is also an executive vice president at the Atlanta-based firm, relinquishes his old job and starts the new one on June 2.

Ocwen made the disclosure Tuesday in an 8-K filing with the Securities and Exchange Commission.

Taking over the CFO slot is Michael R. Bourque Jr. Ocwen said that Bourque was recruited from General Electric Co., where he spent 15 years. He’ll also be designated as an executive vice president.

Bourque’s annual base salary will be $400,000, and his incentive bonus opportunity will be as much as $400,000 depending on performance. When he relocates to the U.S. Virgin Islands, he’ll receive a $50,000 bonus, while he’ll get another $50,000 on April 28, 2015.

Former Nationstar Mortgage senior high risk analyst Libby Johnson has launched Washington, D.C.-based High-Risk Analytics, a news release Tuesday said. The due diligence consulting firm “will endeavor to discourage superfluous spending and encourage efficiency by pinpointing unallowable expenses from loans in default passed from servicers to investors.”

Another Nationstar executive, Lisa Rodgers, has left her job as executive vice president, Inside Mortgage Finance reported last week.

The new vice president of retail lending for the east region at Caliber Home Loans Inc. is Michael Borodinsky, a May 9 announcement indicated. His three decades in the business included time at Chase Home Finance, MetLife Home Loans and Sun Home Loans, according to his LinkedIn profile.

“In his career, Michael has funded over $4 billion in residential loans to more than 10,000 customers,” Caliber Executive Vice President John Bianchi said in the statement.

Cherry Creek Mortgage Company Inc.-subsidiary 1st Reverse Mortgage USA announced a shakeup among its executive ranks, a news release earlier this month stated. The. sales organizational alignment is intended to continue to take the Lakewood, Colo.-based company into its next phase of long-term growth.

The 1st Reverse appointments include:

  • Trish Kauker, corporate accounts business development manager;
  • Tim Malcolm, southwest regional manager;
  • Steve Scheiern, western regional manager; and
  • Randy W. Strom, mountain plains regional manager.

Mortgage Daily Staff

Related Posts

Third-Quarter 2012 Mortgage Litigation Index

Lawsuits involving excessive fees, servicing fees and loan fees beyond state maximums. Defendant Plaintiff Court Amount Overview Case Title Case Number Date Filed Date of Activity Link to Story Fannie Mae and Freddie Mac Orangeburg County, Richland County, South...

Net Branch Lawsuits

Litigation involving net branch operations. Defendant Plaintiff Court Amount Overview Case Title Case Number Date Filed Date of Activity Link to Story PHH Mortgage Corp. Mathews Supreme Court of Virginia na Court held that the term "branch office" includes not only...

Whistleblower Lawsuits

Litigation related to loan servicing, including escrow issues, transfer of servicing and servicing borrowers in bankruptcy and foreclosure.   Defendant Plaintiff Court Amount Overview Case Title Case Number Date Filed Date of Activity Link to Story Bank of...

Mortgage Servicing Lawsuits

Litigation related to loan servicing, including escrow issues, transfer of servicing and servicing borrowers in bankruptcy and foreclosure. Defendant Plaintiff Court Amount Overview Case Title Case Number Date Filed Date of Activity Link to Story BAC Home Loan...

Popular posts

How Long Does It Take to Refinance a Mortgage
How Long Does It Take to Refinance a Mortgage

So, you’re interested in refinancing your mortgage. Maybe you want some extra capital to do that home project you’ve always dreamed of, interest rates are nearing record lows, or you want to start consolidating debt. Regardless of the motivation behind the refinance,...

How Does Refinancing a Mortgage Work
How Does Refinancing a Mortgage Work

A home purchase is considered an investment, and a robust one at that. Savvy owners are constantly looking for new ways to reduce debt, save money, pay less in interest, and ultimately build equity. Refinancing is one way to leverage your investment and do just that....

What Does It Mean to Refinance Your Home
What Does It Mean to Refinance Your Home

You can think of refinancing your mortgage as a debt redo. Essentially, you’ll swap out the existing loan for a new one - ideally with better terms and conditions. Only this time it could help you save money on high mortgage payments, rather than just borrow it....

Setting up the Utilities in My New House
Setting up the Utilities in My New House

All the tedious, time-consuming paperwork has been signed, sealed, and delivered. Your belongings are packed into what seems like a million boxes and you have a solid plan to haul all your existing furniture to the new place. Just as your boxes and furniture need to...

When Is My First Mortgage Payment Due?
When Is My First Mortgage Payment Due?

Navigating your way through a brand-new mortgage loan can be a difficult task, especially for first-time homeowners.   After handing over a large sum of money for the down payment and closing costs, it’s important to pay attention to the timing of your first...

Newsletter

Don’t worry, we don’t spam